https://www.snb.ch/en/news-publications/news News on the Swiss National Bank (SNB) website SNB 2026-10-17T00:24:03Z Copyright © Swiss National Bank, Zurich (Switzerland) 2026 2026-10-17T00:24:03Z https://www.snb.ch/en/srv/disclaimer https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261015_gpe https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261015_gpe Current economic developments and the SNB's monetary policy 2026-10-15T10:30:00Z SNB Current economic developments and the SNB's monetary policy https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261015_gpe Petra Tschudin Member of the Governing Board SNB Singapore Markets Reception 2026, Singapore 2026-10-15T10:30:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261014_sddsplus https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261014_sddsplus IMF SDDS Plus, 14 October 2026 2026-10-14T07:00:00Z SNB IMF SDDS Plus, 14 October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261014_sddsplus 2026-10-14T07:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261012_gwd https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261012_gwd Important monetary policy data, 12 October 2026 2026-10-12T08:00:00Z SNB Important monetary policy data, 12 October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261012_gwd 2026-10-12T08:00:00Z en https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_07 Financial market infrastructures depend critically on communication networks that remain available and secure even during outages and cyber-attacks. SCION is an internet architecture that strengthens resilience by giving users greater control over network paths and allowing traffic to switch rapidly between independently operated providers. The Secure Swiss Finance Network (SSFN), launched by the Swiss National Bank (SNB) and SIX in 2021, shows that this approach works in practice. https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_07 A secure network for financial infrastructure: SCION and the Secure Swiss Finance Network (SSFN) 2026-10-06T22:00:00Z SNB Financial market infrastructures SCION SSFN Cyber security A secure network for financial infrastructure: SCION and the Secure Swiss Finance Network (SSFN) https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_07 Financial market infrastructures depend critically on communication networks that remain available and secure even during outages and cyber-attacks. SCION is an internet architecture that strengthens resilience by giving users greater control over network paths and allowing traffic to switch rapidly between independently operated providers. The Secure Swiss Finance Network (SSFN), launched by the Swiss National Bank (SNB) and SIX in 2021, shows that this approach works in practice. William Boye William Boye Thomas Moser Thomas Moser William Boye and Thomas Moser 2026 SNB Economic Studies 2026-07 2026-10-06T22:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261008_anmar https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261008_anmar Enjeux actuels de la politique monétaire 2026-10-08T08:05:00Z SNB Enjeux actuels de la politique monétaire https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261008_anmar Antoine Martin Vice Chairman of the Governing Board Le rendez-vous économique de la Foire du Valais, Martigny 2026-10-08T08:05:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261007_anmar https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261007_anmar The SNB and its monetary policy 2026-10-07T12:15:00Z SNB The SNB and its monetary policy https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261007_anmar Antoine Martin Vice Chairman of the Governing Board Lecture, University of Neuchâtel, Neuchâtel 2026-10-07T12:15:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_wki https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_wki Exchange rate indices, October 2026 2026-10-07T07:00:00Z SNB Exchange rate indices, October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_wki 2026-10-07T07:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_sddsplus https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_sddsplus IMF SDDS Plus, 7 October 2026 2026-10-07T07:00:00Z SNB IMF SDDS Plus, 7 October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261007_sddsplus 2026-10-07T07:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261006_anmar https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261006_anmar Monetary policy implementation in an environment with abundant reserves 2026-10-06T07:10:00Z SNB Monetary policy implementation in an environment with abundant reserves https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261006_anmar Antoine Martin Vice Chairman of the Governing Board New Challenges in Central Banking Conference at Czech National Bank, Prague 2026-10-06T07:10:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261005_gwd https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261005_gwd Important monetary policy data, 5 October 2026 2026-10-05T08:00:00Z SNB Important monetary policy data, 5 October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261005_gwd 2026-10-05T08:00:00Z en https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20261001 https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20261001 FDF and SNB enter into new profit distribution agreement 2026-10-01T16:00:00Z SNB FDF and SNB enter into new profit distribution agreement https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20261001 2026-10-01T16:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261001_msl https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261001_msl Tenth Karl Brunner Distinguished Lecture - Introduction of Mario Draghi 2026-10-01T15:30:00Z SNB Tenth Karl Brunner Distinguished Lecture - Introduction of Mario Draghi https://www.snb.ch/en/publications/communication/speeches/2026/ref_20261001_msl Martin Schlegel Chairman of the Governing Board Tenth Karl Brunner Distinguished Lecture, Zurich 2026-10-01T15:30:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261001_a https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261001_a Interest rates and exchange rates, October 2026 2026-10-01T12:30:00Z SNB Interest rates and exchange rates, October 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/10/statpub_news_20261001_a 2026-10-01T12:30:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260930_gpe https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260930_gpe Neue Geldformen und die Rolle der SNB 2026-09-30T14:30:00Z SNB Neue Geldformen und die Rolle der SNB https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260930_gpe Petra Tschudin Member of the Governing Board KOF Prognosetagung 2026, Zurich 2026-09-30T14:30:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_qh https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_qh Selected data from the Quarterly Bulletin 3/2026 2026-09-30T13:00:00Z SNB Selected data from the Quarterly Bulletin 3/2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_qh 2026-09-30T13:00:00Z en https://www.snb.ch/en/publications/quarterly-bulletin/2026/quartbul_2026_3_komplett https://www.snb.ch/en/publications/quarterly-bulletin/2026/quartbul_2026_3_komplett Quarterly Bulletin 3/2026 2026-09-30T13:00:00Z SNB Quarterly Bulletin 3/2026 https://www.snb.ch/en/publications/quarterly-bulletin/2026/quartbul_2026_3_komplett 2026-09-30T13:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_c https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_c SNB balance sheet items end of August 2026 2026-09-30T07:00:00Z SNB SNB balance sheet items end of August 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_c 2026-09-30T07:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_sddsplus https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_sddsplus IMF SDDS Plus, 30 September 2026 2026-09-30T07:00:00Z SNB IMF SDDS Plus, 30 September 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260930_sddsplus 2026-09-30T07:00:00Z en https://www.snb.ch/en/publications/research/working-papers/2026/working_paper_2026_12 Can cash infrastructure mitigate the adverse effects of a card payment system outage? As cashless payment systems become increasingly prevalent, societies are becoming more vulnerable to technical disruptions such as card payment system outages. This paper investigates a one-day nationwide card payment system outage at a major retailer in Switzerland. To quantify the loss in card sales at the retailer's stores and the increase in cash withdrawals at ATMs, we generate granular counterfactuals by forecasting card payments and cash withdrawals at the store and ATM level. We then use residual-on-residual regressions to control for high-dimensional confounders and estimate the causal effect of outage-induced card payment losses on ATM withdrawals in an event-study framework. Our district-level results suggest that for every 100 lost card payments, there were 11 additional ATM withdrawals. In value terms, for every CHF 100 loss in card payments, ATM withdrawals increased by approximately CHF 68. We also find only limited evidence of increased card payments at competing stores during the outage or at outage-affected stores on the day after the outage. Our findings suggest that cash infrastructure can serve as a resilience buffer during card payment system outages and that consumers rely on cash as their primary fallback payment instrument. https://www.snb.ch/en/publications/research/working-papers/2026/working_paper_2026_12 Cash saves the day: How cash infrastructure enhances resilience during a card payment system outage 2026-09-15T22:00:00Z SNB Card payments ATM withdrawals Resilience Payment system risk Forecasting Cash saves the day: How cash infrastructure enhances resilience during a card payment system outage https://www.snb.ch/en/publications/research/working-papers/2026/working_paper_2026_12 Can cash infrastructure mitigate the adverse effects of a card payment system outage? As cashless payment systems become increasingly prevalent, societies are becoming more vulnerable to technical disruptions such as card payment system outages. This paper investigates a one-day nationwide card payment system outage at a major retailer in Switzerland. To quantify the loss in card sales at the retailer's stores and the increase in cash withdrawals at ATMs, we generate granular counterfactuals by forecasting card payments and cash withdrawals at the store and ATM level. We then use residual-on-residual regressions to control for high-dimensional confounders and estimate the causal effect of outage-induced card payment losses on ATM withdrawals in an event-study framework. Our district-level results suggest that for every 100 lost card payments, there were 11 additional ATM withdrawals. In value terms, for every CHF 100 loss in card payments, ATM withdrawals increased by approximately CHF 68. We also find only limited evidence of increased card payments at competing stores during the outage or at outage-affected stores on the day after the outage. Our findings suggest that cash infrastructure can serve as a resilience buffer during card payment system outages and that consumers rely on cash as their primary fallback payment instrument. Aurel Ruben Mäder Aurel Ruben Mäder Christoph Meyer Christoph Meyer Yves Nacht Yves Nacht Daniel Gatica-Perez Daniel Gatica-Perez Aurel Ruben Mäder, Christoph Meyer, Yves Nacht and Daniel Gatica-Perez 2026 SNB Working Papers 2026-12 C55 D12 E42 G28 2026-09-15T22:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260928_gwd https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260928_gwd Important monetary policy data, 28 September 2026 2026-09-28T08:00:00Z SNB Important monetary policy data, 28 September 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/09/statpub_news_20260928_gwd 2026-09-28T08:00:00Z en